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What is likely to happen to GBP/EUR in November 2025
GBP to EUR sits just above 1.15, but downside pressure is building.
UK Budget and rate cut fears are weighing on the Pound.
The Euro is fragile too, but political calm in France is offering short-lived support.
Support levels to watch: 1.1440 and 1.1414. Resistance at 1.1560.
If you’re sending Pounds to Europe, consider doing so before potential rate cuts or budget-related volatility drags GBP lower.
GBP to EUR: Where It Stands
The Pound to Euro (GBP/EUR) exchange rate is currently trading just above 1.15.
While this is slightly stronger than recent lows, it’s still below earlier highs, reflecting a delicate balance between weakness in both the UK and the Eurozone.
What’s Driving GBP to EUR?
The Pound and the Euro are being pulled in different directions by politics, economy, and central bank policy.
On the UK side, the upcoming November 26 Autumn Budget is creating concern.
Markets expect possible tax increases, which could hurt consumer spending and slow the economy.
This, combined with signs of slower wage growth and rising unemployment, has investors worrying that the Bank of England (BoE) may cut interest rates sooner than expected.
In contrast, the Euro has recently gained some ground thanks to short-term political stability in France after no-confidence votes failed.
However, broader eurozone problems, like weak German data and growing debt levels, still weigh on the currency's outlook.
Both the BoE and the European Central Bank (ECB) are under pressure.
The ECB is cautious but more stable, while divisions within the BoE increase uncertainty.
If the BoE signals or delivers an early rate cut, the Pound could fall further.
What Do the Charts Say?
The technical outlook supports a cautious stance. GBP/EUR is in a short-term downtrend.
Key support levels to watch are 1.1440 and 1.1414. If the rate dips below these points, the next stop could be closer to 1.13 or even 1.11 if conditions worsen.
On the upside, resistance is found near 1.1560. If GBP/EUR can break above this level and hold, it might indicate a stronger Pound in the near term.
However, current chart signals suggest more downside risk than upside potential.
What to Watch in Next Month
The biggest events impacting this pair will come in late November with:
The UK Autumn Budget (Nov 26): Tax increases or spending cuts could weaken the Pound if markets view them as harming economic growth.
Bank of England speeches: Comments from key officials could reveal if an interest rate cut is coming soon.
Eurozone economic data: Weak German and French figures could put pressure on the Euro.
Ongoing French political dynamics: Any signs of instability can impact confidence in the Euro further.
Risks Ahead
For the Pound:
Early rate cuts by the Bank of England could weaken it fast.
Negative budget reactions or poor UK economic data (e.g., unemployment rising) could push GBP lower.
For the Euro:
Renewed political uncertainty or weak data from Germany or France may hurt confidence.
A downturn in global markets could hurt the Euro more due to its tighter monetary policy.
What This Means If You’re Sending GBP to EUR Abroad
If you need to send British Pounds to the Eurozone, timing matters.
Right now, GBP/EUR is above 1.15, but there's a real chance it could drop closer to 1.14 or lower if UK data continues to disappoint or if the Bank of England hints at rate cuts.
That means your Pounds might buy fewer Euros in a few weeks.
If you’re sending money soon and want to lock in value, consider acting before the UK Autumn Budget. If the Pound weakens afterward, it could cost you more.
But if you're able to wait and there's a strong rebound in the Pound (e.g., if the UK skips rate cuts), you could get a higher rate later.
Live GBP/EUR exchange rates
Converting GBP to EUR
If you are planning to send GBP to the EU, you need to pick the right money transfer company to get the most EUR on the other end.
Depending on your needs, it's best to use one of the following companies in November:
History of the GBP to EUR pair
The UK and the European Union have had a long historical relationship. The UK joined the European Economic Community in 1973 which was a key part of the formation of the European Union (EU) in 1993.
However, the UK was among a group of countries like Poland, Romania, and Sweden that failed to sign to the single currency. Their idea was that they needed their central banks to manage the movements of their local currency.
Historically, the euro has been criticized for restricting the independence of sovereign countries. For example, it is common for the ECB to hike interest rates when big countries like Germany and France are doing well while smaller ones are struggling.
The euro has outperformed the British pound over the years because of its role as the second-biggest economy in the world. The EU has a GDP of over $16 trillion, making it smaller than the US $23 trillion.
In addition, the GBP/USD has dropped because of the impacts of Brexit, which introduced some trade barriers between the UK and the EU. The GBP to EUR exchange rate has crashed by ~39% from its peak in 1999.
| Date | 1 Pound Sterling in EUR |
|---|---|
| Nov 02, 2025 | 1.139405 EUR |
| Nov 03, 2025 | 1.140247 EUR |
| Nov 04, 2025 | 1.133752 EUR |
| Nov 05, 2025 | 1.135320 EUR |
| Nov 06, 2025 | 1.137830 EUR |
| Nov 07, 2025 | 1.137399 EUR |
| Nov 08, 2025 | 1.137399 EUR |
| Nov 09, 2025 | 1.138389 EUR |
| Nov 10, 2025 | 1.139763 EUR |
| Nov 11, 2025 | 1.135378 EUR |
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